Nucoro today announces that abrdn, one of the world’s largest investment companies, has made an investment in Nucoro in order to support the growth and roll out of Nucoro’s industry leading cloud-native investment technology, as part of Nucoro’s upcoming funding round.
Following over a year of the two companies working closely together, abrdn’s decision reflects the conviction that Nucoro represents an exciting opportunity to invest in a leader at the forefront of the rapidly developing world of digital wealth management infrastructure.
Following initial conversations held regarding a potential acquisition by abrdn of Nucoro’s subsidiary company, Exo Investing, the AI powered B2C wealth management solution built on the Nucoro Platform, the parties agreed that a strategic partnership and investment into Exo’s parent company, Nucoro, was of more strategic value, giving abrdn access to an even broader range of technology knowledge.
abrdn’s investment acknowledges the considerable value in Nucoro's next generation technology and its future impact on the digital wealth sector within financial services. Nucoro focuses on delivering modern, API-led infrastructure and integrating seamlessly with existing and new financial and third party systems. Its technology aligns closely with abrdn's Personal vector client-led growth strategy.
Nucoro was last year named in the prestigious Startups 100 list, the UK’s longest running index of disruptive new startups. It was also named in Fintech Global’s 2022 WealthTech100 list for the third year in a row, which recognises technology companies that are transforming wealth management.
David Mouille, Chief Strategy and Business Development Officer at abrdn, commented: “abrdn is at the forefront of the next era of the investment landscape, helping our clients plan, save and invest for their future. Nucoro’s technology showcases best in class investment infrastructure that will power this future and we are excited to invest in the company behind it.”
Lennart Asshoff, CEO at Nucoro, commented: “We are delighted that abrdn has chosen to invest in our technology. Nucoro offers the world’s most flexible investment platform, enabling financial institutions to build digital savings, investment and wealth management propositions at speed and scale. The investment of abrdn is a strong endorsement for our technology and our approach, and we look forward to working closely in partnership with abrdn in the future.”